11 Nov Myths About Starting a Business

While starting a business is not a difficult process but running the startup operation can prove to be trying and even exhausting. There are too many priorities vying for the entrepreneur’s attention and there are not enough hours in the day to get it all done. But, once that business is off the ground, it can become rewarding – even thrilling.

If you are considering launching a new venture and have the metabolism it requires, The Startup Store would like to offer a few myth-busting ideas for your consideration:

Myth No. 1: There’s a “right” time to start.

We learned that there is no “right” time to start a business when basing that timing on external market factors. The only “right” time is when you’re passionate about an idea, product or service.

Myth No. 2: You need venture capital.

Believe it or not, you don’t usually need venture capital to start a business. Consider crowdfunding platforms that allow you to raise money and attract interest from around the globe.

Myth No. 3: You need a detailed business plan.

Don’t get caught up in the minutiae of a plan. Focus on getting your product or service in the hands of potential customers, understanding early customers’ feedback, and incorporating revisions quickly.

Myth No. 4: It’s all about the idea.

Actually, it’s less about the idea and more about listening to your customers and evaluating the data. Your idea may be great but if you aren’t able to meet the demands of your customers, you may not be in business for long.

Myth No. 5: If you build it, they will come.

Once your product or service is in market, you need to continually get the word out. Keep marketing your product, and always make sure your customers, friends, and communities are updated on your progress.